Rihanna has reached billionaire status with an estimated net worth of $1.7 billion. Her latest milestone makes her the wealthiest female musician in the world and the second wealthiest female entertainment, after Oprah Winfrey.
Her billion-dollar fortune is due to her popular Fenty Beauty, where she owns 50% of its stocks for an estimated $1.4 billion, according to Forbes. The rest comes from her lingerie company Savage X Fenty and her earnings as an actress and one of the world’s most popular and highly streamed musicians.
Launching as a joint venture with French luxury goods company LVMH, Rihanna’s Fenty Beauty went on to pull in $550 million in annual revenue. Fenty Beauty went on to earn more than other high-profile celebrity brands like Kim Kardashian’s KKW Beauty, Kylie Jenner’s Kylie Cosmetics, and Jessica Alba’s Honest Company.
In February, the lingerie company raised $115 million in funding at a $1 billion valuation, according to Forbes.
Outside of her flourishing music career, Rihanna has achieved one more significant accomplishment as a business mogul.
Since releasing her 2016 album “Anti,” the singer has only appeared as a feature on songs with Drake, DJ Khaled, and PartyNextDoor.
Robyn Rihanna Fenty, popularly known as Rihanna, was born on 20th February 1988 in Saint Michael, Barbados. She attended Combermere High School, she is a singer, actress, fashion designer, and businesswoman.
Rihanna was discovered by American record producer Evan Rogers who invited her to the United States to record demo tapes. She has won several awards such as MTV Michael Jackson Video Vanguard Award and many more including TV shows to mention a few.
Story: Hilda Katu
Editor: Ehi Ohiani